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If you currently have a car, I'd say for you to wait on the " potential two new cars" until you get the house. If you get the cars, that debt will be use to calculate your DTI which can impact your borrowing ability.
So get the house and go from there.
Agree with Yes-its-me.
Get your home mortgage first. Wait on the vehicle(s) until you close on your new home.
Otherwise it could show as a "run up of credit" if you get the vehicles first - which would negatively impact the home loan. In fact, it could be a denial. The two new car payments will impact what you can borrow anyway - so don't do it. I have seen many people turned down for home mortgages because of car payments. smh
Agreed, get the house closed.
IF your DTI supports it you could do one car now BUT with the blessing of the person who is working your loan.
Make sure you have a place to sleep and park the cars. After that enjoy and get your vehicles.
Ideally you don't want to add any debt in the few months before you go to buy a house. If you have room in your debt to income ratio and you need a car you can certainly buy one and the lender is not going to hold it against you because you need transportation for work. Once you start escrow you cannot touch anything at all so during that period the answer is no way but before you need a car to work but make sure you plan carefully so you don't add too much debt.
Also, post this question in the mortgage section, there are several mortgage brokers and loan officers who chime in on questions so they can help you with planning your mortgage and car purchase.
@Anonymous wrote:Also, post this question in the mortgage section, there are several mortgage brokers and loan officers who chime in on questions so they can help you with planning your mortgage and car purchase.
^^^Agree here. DTI ratios for mortgages are pretty much a hard line - unlike vehicle loans. The debt ratio allowances vary from lender to lender and program to program, but you can't go over the max like you can in a vehicle loan.